Title
Resolution to Amend the Fiscal Year 2020 Approved Budget to Accept the Local Allocation of Funds to be Received through the Coronavirus, Aid, Relief, and Economic Security Act of 2020 and to Appropriate Those Funds to the Grants Fund
Purpose
PURPOSE/BACKGROUND:
See Discussion.
Discussion:
Congress and the President recently signed the Coronavirus, Aid, Relief, and Economic Security ("CARES") Act of 2020. A primary component of the Act is $150 billion in assistance to state, local, territorial, and tribal governments thorough the establishment of the Coronavirus Relief Fund ("CRF"). Allocations were sent to states based on population, with 55% of each share being based on total state population, and the remaining 45% being based on the local population of each state's cities and counties. Localities with populations greater than 500,000 could apply to receive funds directly. Fairfax County made such a direct request. Virginia received $3.1 billion as its sharing (which does not include approximately $200 million that went directly to Fairfax County. Hampton is scheduled to receive $11,735,479 of those funds allocated to Virginia.
CRF funds may only be used for certain qualifying expenses that cover costs that (1) are necessary expenditures incurred due to COVID-19 public health emergency; (2) were not accounted for in the budget most recently approved as of March 27, 2020 for the State or local government; and (3) were incurred during the period beginning March 1, 2020 and ending December 30, 2020, all of which are more specifically detailed in a memorandum to localities from the Commonwealth's Secretary of Finance dated May 12, 2020. Localities may be required to return funds to the federal government if it is determined those funds were spent for purposes that don't qualify.
The local allocation of $11,735, 479 is more than 1% of City's Fiscal Year 2020 Approved Budget. Section 15.2-2507 of the Code of Virginia of 1950, as amended, s...
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